The iconic Transamerica Pyramid building in San Francisco, Calif., former headquarters of the Transamerica Corp. Photo: David Paul Morris/Bloomberg Lawyers Ask NY's Highest Court to Set Curbs on Companies That Buy Settlements
The lawyers allege Transamerica failed to disclose an anti-assignment clause in the settlement agreement that prohibited their client from ever having the power to transfer his payments—a provision intended to guarantee his long-term economic security, along with protecting taxpayers from the possibility he could become dependent on public assistance.
March 01, 2023 at 05:37 PM
7 minute read
A case headed for New York's highest court alleges a third-party insurance company stood idly by as a cognitively challenged loss payee's structured settlement was "stripped away" by three factoring companies that "preyed" on him after he had moved to Florida.
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